THELOGICALINDIAN - Ethereum archetypal amount has recovered able-bodied adjoin the US Dollar and Bitcoin ETCUSD now has to bright 1230 for added assets in the abreast term
Ethereum Classic Price Upside Barrier
After a nasty decline beneath the $10.00 handle, ETC amount managed to acquisition abutment abreast $8.70 adjoin the US Dollar. The amount started a appropriate accretion from the $8.67 low and managed to move aloft the $10.00 handle. There was a breach aloft the 23.6% Fib retracement akin of the aftermost abatement from the $14.50 aerial to $8.67 low. The upside move was strong, as there was alike a breach aloft the $10.80 resistance.
Later, there was a breach aloft a bearish trend band with attrition at $11.00 on the alternate blueprint of ETC/USD. The best important move was aloft the 50% Fib retracement akin of the aftermost abatement from the $14.50 aerial to $8.67 low and the 100 alternate simple affective average. These all are absolute signs and advance a appropriate trend aloft $11.00. The abutting important hurdle for buyers is abreast $12.30.
The declared $12.30 attrition represents the 61.8% Fib retracement akin of the aftermost bead from the $14.50 aerial to $8.67 low. A breach and abutting aloft $12.30 would accessible the doors for a move appear the $14.00 handle. On the downside, a bullish trend band at $11.50 is an actual support, followed by the 100 alternate SMA.
Hourly MACD – The MACD is aback in the bullish zone.
Hourly RSI – The RSI is branch college appear the 70 level.
Major Support Level – $11.00
Major Resistance Level – $12.30
Charts address – Trading View, Kraken
